USDJPY Funding Rate — live across 3 venues

Compared across 3 supported venues · net of estimated fees · updated every few minutes

Live annualized USDJPY perpetual funding across all 3 venues Perpia tracks. Right now USDJPY funding is positive on 2 and negative on 1, ranging from +10.5% on Extended to -0.6% on Nado — a spread of 11.1%. The widest delta-neutral trade is long Nado / short Extended at 3.9% net APR.

venues

paying positive

11.1%

funding spread

Best USDJPY spread now

3.9%

net APR after fees

Long Nado→Short Extended

size depends on live venue depth — see the real cap in the scanner

USDJPY funding trend & liquidity

169h of history

11.1%

current gross APR

10.3%

24h average

2.3%

7-day average

$98K

pair OI · lower leg

$83K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

USDJPY funding rate history

30d · 6h buckets · 3 venues

38.8%0-49.4%

9 Aug8 Sep

USDJPY — average across 3 venuesExtendedNadoOndo Perps

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +2.5%. A break in a line means no data was recorded for that stretch, not a zero rate.

USDJPY funding rate by venue

2 pairs scanned

Venue	Funding APR	Interval
Extended ↗	+10.5%	1h
Ondo Perps	+5.5%	1h
Nado ↗	-0.6%	24h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Nado vs Extended page.

USDJPY arbitrage — 29-day backtest

long Nado · short Extended

2.1%

backtested APR

+$17

historical net P&L on $10,000

0.03%

max drawdown

$10,000$10,017

29 days agostarting capital $10,000today

Over the last 29 days, holding long Nado / short Extended would have produced 2.1% APR — versus the 3.9% the live spread implies right now (equity $10,000 → $10,017). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading USDJPY backtest…

USDJPY funding — FAQ

Is USDJPY funding positive right now?

USDJPY perpetual funding is positive on 2 of 3 venues Perpia tracks and negative on 1. The highest is +10.5% on Extended; the lowest is -0.6% on Nado.

What is the best USDJPY funding arbitrage right now?

Go long Nado and short Extended for about 3.9% net APR after fees — the widest delta-neutral USDJPY spread Perpia currently sees.

Which exchange has the highest USDJPY funding rate?

Extended, at +10.5% annualized. Funding shifts continuously, so check the live table above before trading.

How USDJPY funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to USDJPY

Markets also quoted on both Extended and Nado — the same two exchanges you would already have funded for the USDJPY trade.

See every spread between them on the Extended vs Nado page.

Open the live scanner →All funding rates Funding by exchange How we calculate this